BIG Fiber, a provider of high-capacity dark fiber infrastructure, closed a $250 million debt facility with an additional $100 million accordion feature. The financing, led by Stonepeak Credit and La Caisse (formerly CDPQ), provides BIG Fiber with capital to accelerate the expansion of its core markets and reinforces its position in the U.S. mission-critical digital infrastructure market.
Proceeds of the facility will be used to refinance existing debt, provide new capital and facilitate the necessary headroom for major network expansions already underway. This includes a significant multi-market buildout in Greater Atlanta, adding over 205 route miles and 165,000 fiber miles to BIG Fiber’s existing market-leading footprint.
“Our partnership with Stonepeak Credit and La Caisse marks a pivotal moment in our mission to empower our customers with highly scalable and purpose-built dark fiber solutions,” Bruce Garrison, CEO of BIG Fiber, said. “This financing ensures we have the scale to stay ahead of the escalating demand for modernized infrastructure enabling the AI ecosystem and the necessary digital highways for decades to come.”
Arun Varanasi, managing director at Stonepeak Credit, added, “BIG Fiber’s infrastructure delivers critical bandwidth to meet the insatiable demand for both data and compute capacity across its key markets. We are proud to partner with Columbia Capital, SDC Capital Partners and La Caisse to support the company’s next leg of growth as it positions itself as one of the preeminent dark fiber operators in the country.”
Jérôme Marquis, managing director and head of private credit at La Caisse, said, “BIG Fiber is well positioned to meet the growing connectivity needs of enterprises and data centers seeking new, high-quality infrastructure options. Its resilient business model, underpinned by long-term contracts and strong structural demand, positions the company well for growth. Together with Stonepeak Credit, we’re providing a tailored financing solution that supports the continued buildout of essential digital infrastructure.”
